Saturday 17 October 2026
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Golub Capital BDC, Inc.
GBDC Financial Asset Management
Golub Capital BDC, Inc.’s revenue for fiscal 2025 (year ended September 2025) was $870.8 million, up 20.2% from fiscal 2024. In the quarter to June 2026, revenue fell 14.0%, EPS fell 35.3%, free cash flow grew 196.2% and total debt fell 11.5%, each against the same quarter a year earlier. Revenue growth for ten consecutive years.
12.12
0.15
−1.22%
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| Sep '16 | Sep '17 | Sep '18 | Sep '19 | Sep '20 | Sep '21 | Sep '22 | Sep '23 | Sep '24 | Sep '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
— | 5 | 2 | 0 | 7 | 3 | 2 | 7 | 4 | 3 |
P/E ratio |
13.68 | 13.05 | 13.42 | 0.00 | 94.57 | 7.83 | 13.77 | 9.40 | 10.72 | 9.64 |
P/S ratio |
7.39 | 7.60 | 7.46 | 7.01 | 6.60 | 8.65 | 5.45 | 4.04 | 4.20 | 4.18 |
P/FCF ratio |
0.00 | 16.84 | 0.00 | 0.00 | 10.51 | 0.00 | 0.00 | 12.46 | 8.84 | 0.00 |
P/Operating CF |
(54.42) | 7.88 | 37.30 | (31.72) | 19.30 | (6.87) | 13.31 | 37.96 | (15.20) | 13.68 |
P/B ratio |
1.08 | 1.09 | 1.17 | 0.54 | 0.82 | 1.03 | 0.83 | 0.96 | 0.76 | 0.91 |
Price to Tangible BV |
1.08 | 1.09 | 1.17 | 0.54 | 0.82 | 1.03 | 0.83 | 0.96 | 0.76 | 0.91 |
EV/Sales |
13.41 | 12.79 | 12.76 | 18.85 | 12.96 | 16.40 | 13.25 | 9.09 | 10.15 | 9.77 |
EV/EBITDA |
19.37 | 18.57 | 18.88 | 26.09 | 15.99 | 19.74 | 18.00 | 12.51 | 12.32 | 12.30 |
EV/Operating CF |
(30.58) | 28.33 | (229.02) | (27.42) | 20.64 | (16.45) | (12.34) | 28.06 | 21.39 | (74.89) |
EV/FCF |
(30.58) | 28.33 | (229.02) | (27.42) | 20.64 | (16.45) | (12.34) | 28.06 | 21.39 | (74.89) |
Quick Ratio |
5.15 | 3.56 | 2.19 | 1.91 | 6.82 | 8.29 | 2.30 | 2.87 | 4.73 | 1.90 |
Current Ratio |
5.15 | 3.56 | 2.19 | 1.91 | 6.82 | 8.29 | 2.30 | 2.87 | 4.73 | 1.90 |
Net Debt/EBITDA |
8.69 | 7.53 | 7.75 | 16.36 | 7.58 | 9.07 | 10.36 | 6.80 | 7.12 | 6.94 |
Debt/Assets |
48.94% | 44.28% | 45.91% | 48.23% | 45.40% | 49.40% | 54.15% | 54.38% | 52.84% | 54.58% |
Debt/Equity |
0.98 | 0.81 | 0.87 | 0.95 | 0.84 | 0.99 | 1.21 | 1.22 | 1.15 | 1.23 |
Asset Turnover |
0.08 | 0.08 | 0.08 | 0.06 | 0.07 | 0.06 | 0.07 | 0.11 | 0.10 | 0.10 |
Operating CF/Net income |
(0.81) | 0.76 | (0.10) | 6.38 | 3.42 | (0.90) | (2.71) | 0.76 | 1.26 | (0.30) |
Capex/Depreciation |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Interest Coverage |
3.36 | 3.21 | 3.29 | 2.98 | 2.86 | 3.55 | 3.20 | 2.94 | 2.81 | 2.37 |
| 8.19% | 8.96% | 8.51% | (1.16%) | 2.38% | 13.67% | 5.99% | 10.16% | 8.34% | 9.42% | |
| 4.08% | 4.69% | 4.57% | (0.60%) | 1.24% | 7.08% | 2.83% | 4.53% | 3.79% | 4.26% | |
ROIC |
2.48% | 2.60% | 2.69% | 1.26% | 2.05% | 2.14% | 2.23% | 3.31% | 2.90% | 2.82% |
Return on Tangible Assets |
89.95% | 166.23% | 289.29% | (39.21%) | 32.24% | 151.35% | 196.78% | 204.44% | 81.80% | 471.42% |
Average Days of Receivables |
16.94 | 16.61 | 15.98 | 35.57 | 21.08 | 21.70 | 19.57 | 35.14 | 37.29 | 28.52 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
27.24% | 26.62% | 28.24% | 24.78% | 28.44% | 24.00% | 26.36% | 26.48% | 21.52% | 21.06% |
Intangible Assets out of Total Assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Share Based Compensation of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Graham Net Nets |
(0.83) | (0.69) | (0.72) | (1.72) | (0.94) | (0.88) | (1.42) | (1.23) | (1.40) | (1.33) |
Graham Number |
22.50 | 23.11 | 21.99 | 0.00 | 7.12 | 26.43 | 17.38 | 22.62 | 25.16 | 21.87 |
Earnings Yield |
7.31% | 7.66% | 7.45% | (0.54%) | 1.06% | 12.78% | 7.26% | 10.64% | 9.33% | 10.37% |
Free Cash Flow Yield |
(5.93%) | 5.94% | (0.75%) | (9.80%) | 9.52% | (11.52%) | (19.69%) | 8.03% | 11.31% | (3.12%) |
Revenue per Share |
2.46 | 2.42 | 2.46 | 2.63 | 2.01 | 1.83 | 2.27 | 3.54 | 3.60 | 3.27 |
Operating CF per Share |
(1.08) | 1.09 | (0.14) | (1.81) | 1.26 | (1.82) | (2.44) | 1.15 | 1.71 | (0.43) |
Capex per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Free Cash Flow per Share |
(1.08) | 1.09 | (0.14) | (1.81) | 1.26 | (1.82) | (2.44) | 1.15 | 1.71 | (0.43) |
Cash per Share |
1.72 | 1.10 | 0.74 | 1.26 | 1.22 | 1.41 | 0.69 | 0.80 | 1.74 | 0.38 |
Shareholders Equity per Share |
16.92 | 16.83 | 15.69 | 33.94 | 16.09 | 15.37 | 14.91 | 14.96 | 19.95 | 14.97 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
16.92 | 16.83 | 15.69 | 33.94 | 16.09 | 15.37 | 14.91 | 14.96 | 19.95 | 14.97 |
Free Cash Flow |
(56.08) | 62.20 | (8.48) | (118.46) | 187.68 | (306.05) | (416.46) | 195.37 | 343.91 | (113.59) |
Working Capital |
76.94 | 49.50 | 28.34 | 47.39 | 170.17 | 224.83 | 77.98 | 126.51 | 334.69 | 79.90 |
Net Current Asset Value |
(782.21) | (727.40) | (814.49) | (2,072.39) | (1,848.69) | (2,326.54) | (2,998.64) | (2,991.54) | (4,264.92) | (4,826.94) |
EV/EBIT |
18.43 | 17.43 | 17.79 | 25.06 | 18.11 | 21.57 | 18.00 | 12.36 | 12.34 | 12.38 |
Capex to Sales |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Price to Operating Income |
14.47 | 15.05 | 14.94 | 14.04 | 14.18 | 15.84 | 10.78 | 8.31 | 7.93 | 9.18 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Cash ROIC |
(3.07%) | 3.46% | (0.46%) | (2.68%) | 4.08% | (5.70%) | (7.26%) | 3.37% | 3.84% | (1.26%) |
Accounts Receivable Turnover |
21.98 | 22.57 | 23.53 | 14.69 | 17.56 | 17.29 | 19.86 | 15.30 | 10.97 | 12.26 |
Accounts Payable Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Receivables |
5.82 | 6.10 | 6.47 | 11.73 | 17.03 | 17.76 | 19.53 | 39.42 | 66.05 | 71.03 |
Average Payables |
17.29 | 18.70 | 21.60 | 38.05 | 40.73 | 30.04 | 45.48 | 63.83 | 78.58 | 89.26 |
Average Assets |
1,694.97 | 1,755.34 | 1,794.86 | 3,115.21 | 4,419.57 | 4,804.60 | 5,423.07 | 5,707.35 | 7,218.61 | 8,841.03 |
Average Common Equity |
844.85 | 918.39 | 963.40 | 1,595.85 | 2,309.52 | 2,489.44 | 2,563.60 | 2,546.19 | 3,281.20 | 3,998.55 |
Columns are period end dates